Daily iron ore price update (Cliffs edge)

Monday 1 February 2016

Here are the iron ore charts for January 29, 2015:

Tianjin benchmark was flat at $41.50. The proximate cause for paper strength is Cyclone Stan which shut Port Hedland for Saturday but reopened yesterday so should fade quickly. Rebar faded. This is the last week before Chinese New Year kicks in. Typically the Feb-Jun period after CNY is weak so I suspect our restock is pretty close to be being done.

In miner news, we have some interesting data from Cliffs fourth QTR report:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.